• Egypt-based Beltone Venture Capital has completed a partial exit from Egyptian proptech BirdNest, generating a 3.5x return on invested capital and an 80% internal rate of return (IRR) over a two-year investment period.
• The transaction covered both Beltone Venture Capital's direct investment and its indirect stake through its joint fund with UAE-based Citadel International Holdings, while the firm retained a strategic stake in BirdNest.
• According to Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital, the partial exit reflects the firm's disciplined investment strategy while allowing it to return capital to investors and continue supporting BirdNest's next growth phase.
• Founded in 2019 by Mostafa Elnahawy, BirdNest offers a technology-powered marketplace for curated boutique hotels and holiday homes centred on art, wellness, and local experiences.

Press release:

Beltone Venture Capital has announced the successful partial exit from BirdNest, delivering a 3.5x return on invested capital and an 80% internal rate of return (IRR) over a two-year holding period.

The partial exit was executed across Beltone Venture Capital's direct stake and its indirect stake through the joint fund with UAE-based Citadel International Holdings, while Beltone Venture Capital continues to retain a strategic stake in BirdNest, reinforcing its confidence in the company's long-term growth potential.

Commenting on the milestone, Ali Mokhtar, CEO & Managing Partner of Beltone Venture Capital, said: "This outcome reflects the discipline of Beltone Venture Capital's investment approach from rigorous underwriting and active portfolio support to disciplined capital realization. This partial exit enables us to return capital to our investors while retaining a strategic stake in BirdNest. We remain committed to supporting the company's next phase of growth through Beltone's financial ecosystem and capabilities."

Mostafa Elnahawy, Co-Founder & CEO of BirdNest, added: “This milestone reflects the strength of BirdNest’s business model and the dedication of our team, partners, and investors. Over the past two years, we have achieved more than 10x growth in U.S. dollar revenue while reaching profitability. As we enter our next phase, we remain focused on creating sustainable long-term value and redefining hospitality through technology and exceptional guest experiences.”